Letters to the Editor

Dirt Lawyers versus Wall Street: A Different View

In the securitization boom that preceded the financial crisis, people became sloppy about the technical details of transferring residential mortgages from the originator to intermediaries and ultimately to real estate mortgage investment conduits (“REMIC” vehicles) for securitization. Bradley T. Borden and David J. Reiss described the magnitude of the mess, and its possible legal, tax, and practical consequences, in the cover article of the May/June 2013 issue of this publication.